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Started By
Message
re: Larger Banks Move out of Yen Carry, and Heavy in VVIX Today
Posted on 6/13/14 at 8:09 pm to LSURussian
Posted on 6/13/14 at 8:09 pm to LSURussian
quote:
fwiw.
Great spelling! LMAO!
[in my best LSU Russian impression]
I am a bit interested in what's got you treating folks so consistently poorly, admittedly. You've never struck me as the type who needed to act like you have lately when conversing in this medium. Genuinely surprising, all BS aside.
1
Posted on 6/14/14 at 7:37 am to GFunk
I think he misses wiki
Posted on 6/14/14 at 11:01 am to oR33Do
Posted on 6/14/14 at 11:27 am to Iowa Golfer
What
The
frick
Posted on 6/15/14 at 4:40 pm to Iowa Golfer
Interesting comments.
Wonder how much the US winding down QE and the ECB getting ready to start the European version of QE is affecting this? Could big money be rotating out of a Yen carry trade and looking to go into a Euro carry trade in the coming months?
quote:
All sorts of stuff could be going on here.
Wonder how much the US winding down QE and the ECB getting ready to start the European version of QE is affecting this? Could big money be rotating out of a Yen carry trade and looking to go into a Euro carry trade in the coming months?
Posted on 6/15/14 at 6:07 pm to LSU0358
I don't think so. Yet. I'm honestly not sure.
Posted on 6/15/14 at 6:26 pm to Iowa Golfer
quote:
Yet.
I'm not sure either.
The ECB cutting rates on 6/5 was just a first step in Draghi's move to push the Euro down IMO.
Its going to be very interesting how the currency markets behave in the next 12 to 18 months. The USDJPY has already bottomed and is just pausing in the last few months. The AUDUSD looks to have topped back in late 2012 with the USDCAD having bottomed in late 2012 as well. My guess is the EURUSD and USDCHF are the next big movers in coming USD spike. The GBPUSD will be the last one standing.
Posted on 6/15/14 at 7:36 pm to LSU0358
I went long the yen as a play on their capital gains tax increase, and what I thought would be a flow out of their equities market. A speculative play, but also a hedge against my domestic portfolio.
I timed it wrong.
What you describe, and what I describe, although not exactly the same, would have some implications on American equities. At least it always has in the past.
What I witnesses last week seems to have calmed down. Also, it is really almost impossible to tell on the equities and derivatives side what bank's real positions are as they own their own stock exchanges and the pricing and market depth is mostly hidden. Notwithstanding the other guy that claims they don't own their own liquidity pools in some sort of alternate reality.
I timed it wrong.
What you describe, and what I describe, although not exactly the same, would have some implications on American equities. At least it always has in the past.
What I witnesses last week seems to have calmed down. Also, it is really almost impossible to tell on the equities and derivatives side what bank's real positions are as they own their own stock exchanges and the pricing and market depth is mostly hidden. Notwithstanding the other guy that claims they don't own their own liquidity pools in some sort of alternate reality.
Posted on 6/15/14 at 7:52 pm to Iowa Golfer
Posted on 6/15/14 at 9:16 pm to LSURussian
Posted on 6/16/14 at 7:34 am to Iowa Golfer
For dem bones.
This post was edited on 6/16/14 at 7:35 am
Posted on 6/16/14 at 7:53 am to Ole War Skule
All connected baby!
Posted on 6/16/14 at 9:38 pm to Iowa Golfer
Anyone care to explain WTF this thread is about. Are stocks getting ready to take a dive again?
Posted on 6/16/14 at 9:54 pm to La Place Mike
Yen carry has always propped up the American stock market. To oversimplify, this is one way larger institutions borrow cheaply to buy American equities. You can see banks line up their trades, and they moved away from this trade in a hurry last week, and towards the VVIX, which is a future's contract. It is commonly referred to as the VIX of the VIX.
Google currency carry. Google VVIX. It's really pretty esoteric stuff. It normally always means something when it is done to the extent it was last week.
They called the VVIX correctly, that's a fact. I'm not sure about the currency carry, I don't understand that except on a big picture level.
You have to drill down fairly deep to see these trades. If you have IB as a trading platform, you can see parts of it as it develops. Only parts of it. The larger institutions own what is known as a dark pool, which adds liquidity to the market, but is basically their own private stick exchange. Retail consumers can trade on this if they have a ore sophisticated on line trading account. Sometimes these private exchanges hide bid and ask, but almost always hide who the bid and ask are being made by, and a lot of times hide the volume.
And yes, stocks are getting ready to take a dive again. No one is sure exactly when though. But I will guaranty you 100% they will take a dive eventually.
Google currency carry. Google VVIX. It's really pretty esoteric stuff. It normally always means something when it is done to the extent it was last week.
They called the VVIX correctly, that's a fact. I'm not sure about the currency carry, I don't understand that except on a big picture level.
You have to drill down fairly deep to see these trades. If you have IB as a trading platform, you can see parts of it as it develops. Only parts of it. The larger institutions own what is known as a dark pool, which adds liquidity to the market, but is basically their own private stick exchange. Retail consumers can trade on this if they have a ore sophisticated on line trading account. Sometimes these private exchanges hide bid and ask, but almost always hide who the bid and ask are being made by, and a lot of times hide the volume.
And yes, stocks are getting ready to take a dive again. No one is sure exactly when though. But I will guaranty you 100% they will take a dive eventually.
This post was edited on 6/16/14 at 9:56 pm
Posted on 6/16/14 at 10:09 pm to Iowa Golfer
Thanks for the answer and I will check out your google suggestions.
Posted on 6/17/14 at 11:18 am to Iowa Golfer
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